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the deficit so social security cuts remain on the table but in the mean time, the president proposed his own plan b, to extend the bush tax cuts on income under $250,000. >> once this legislation is agreed to, i expect democrats and republicans to get back to washington and have it pass both chambers and i will sign the legislation into law before january 1st of next year. it's that simple. >> well, i was surprised by the events this week in terms of the boehner total disaster. i just -- i didn't really get the whole plan from the beginning and i don't understand why you have people vote for a tax increase that mappings to break the pledge that they've all signed but it has no chance of becoming law and clearly, his caucus didn't understand it either. dillon what did you think? >> two things. first and foremost, i think boehner was trying to get action in washington, which we haven't seen and people have been very critical of this move. i thought it was a fairly shrewd political move in that if they were able to actually get the package passed -- >> right. >> it would have put the ball back
and deficit reduction. >> everything that has been happening in the last several hours has been happening behind the scenes. we have correspondents tracking everything for you. we have luke, luke, i will start with you this hour. the senate officially reconvenes tomorrow afternoon. i assume that there's a lot of closed door talks going on right now. is that true? what can you tell us? >> reporter: that is true, staff from harry reed and mitch mcconnell have been negotiating through the daout the day and in picked up. we have heard that both sides are not budgeting. but we don't know, things can change at any moment. if we have to gauge how to talks have gone so far from the conversations we have had here around capitol hill, they have not been too good at the moment. all that being said though, craig, there's a lot that can happen over the next 48 hours. the deal obviously is to try to have something on the floor that can pass the house of representatives by new year's eve. that is why it's so difficult, craig. you have mitch mcconnell and harry reed trying to get something passed. so the
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